Re: Do you think "iamnotback" really has the" Bitcoin killer"?
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I was referring to Jim Rickards' prediction that the elite will shut down the financial system for a period of time. I am saying that if that period of time is of sufficient duration that BTC can't be exchanged for fiat to pay for electricity, then mining farms have to shut down.
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I was referring to Jim Rickards' prediction that the elite will shut down the financial system for a period of time. I am saying that if that period of time is of sufficient duration that BTC can't be exchanged for fiat to pay for electricity, then mining farms have to shut down.
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Total bullshit
man now there are projects like 2k Wat solar power + miner:http://www.bimblesolar.com/bitcoinsolar - ta da and NOMORE PROBLEMS WITH POWER
The mining farms don't currently run on solar dimwit. They run on subsidized cheap power in China such as hydropower at 2 - 4 cents per kWH.
You seem to not read, both the red highlighted text above and the upthread post as quoted below:
I didn't take the time to read all 16 pages, but regarding the financial elite turning off financial transfers in a doomsday scenario, thus forcing miners to turn off their machines, why wouldn't the electric provider accept Bitcoin or litecoin as payment for their service?
I'd rather not focus on that upthread diversion. It wasn't a particularly strong point. That is not the main problem with Bitcoin.
The intended point was simply that if we didn't have to rely on PoW (and its numerous disadvantages), it would be better (assuming all of PoW's positive attributes were retained).